In his own words: The Angus Taylor interview
A transcript of shadow treasurer Angus Taylor's comments on some of the major economic issues facing Australia.
This transcript has been edited for length, clarity and readability.
Shadow treasurer Angus Taylor:
Favourite economists
I learn bits from lots of different people. I love Niall Ferguson's historical books, I think they're amazing. I think his insight … his writings are amazing. It was David Goodhart who wrote about the Somewheres and Anywheres. The changing politics we've seen across the world. It's very, very powerful.
I'd love to see more connection between academia and the real world than there has been. When I go back to the 70s and 80s, much of the reform that was driven was a result of academics who connected to the real world. I'm not sure we're seeing as much of that as we used to. And I think that's unfortunate. Whatever you think about someone like Milton Friedman, he had a massive impact. And he was able to traverse that gap between the real world and the academic world. And I think we're not seeing enough of that.
Challenges and vision for the economy
I think there's a couple of challenges that are really dominant right now. They're going to be challenges for many years to come. Number one is re-establishing aspiration at the centre of the economy. We've got a younger generation coming through now who are, by instinct and nature, optimistic. But there's a sense of, “should we have hope?” I've got four kids from 18 to 25 and I talk to their friends all the time. And there is this sense of “are we going to have as good an opportunity in life as you had?” And I think that's a really important question. I think that aspiration has been at the heart of Australians, seeing the fantastic nature of Australia and loving Australia for what it is. And if you lose that, I think you'll lose a lot. So that, to me, is the most important part of what government can do — help to reestablish aspiration at the centre of not just our economy, but more broadly across the community. There is much government can do. I would say that aspiration is an individual thing. We can't force people to be aspirational. They choose. And that's a really important part.
There's a couple of things here that really count. One is home ownership. And I think there is nothing that's characterised Australian aspiration more than owning a home. We also know that when you go into retirement owning a home you are going to have, on average, a much better retirement. So it's an incredibly important setup for your life. But it also gives you a deep sense of citizenship and ownership. [It] makes you a stakeholder in the country in a way that you're not if you don't own.
